Salym Petroleum Development and Khanty-Mansi Autonomous Region Government Signed Cooperation Agreement

Salym Petroleum Development N.V. (SPD) and Khanty-Mansi Autonomous Region Government (KHMAO) signed the Cooperation Agreement for 2011 in Moscow. The Governor of Yugra Natalia Komarova and SPD CEO Simon Durkin put their signatures on the Agreement.

“Signing of a Cooperation Agreement with the KHMAO Government is one more important step in consolidation and further development of our partnership relations”, commented SPD CEO Simon Durkin. – “This is also another confirmation of our commitment to the business social responsibility principles. We have been committed to these principles from the very first days of our activities in the region. As of today, SPD total investments to social projects and charities in the region from the beginning of Salym project implementation in 2003 make over $16 million. During the next three years the scope of financing for these purposes will increase up to $25 million. We consider social investment as an integral part of SPD’s contribution to ensuring the sustainable social and economic development of the Khanty-Mansi Autonomous Region.”

The agreement covers extension of mutually beneficial cooperation aimed to further development of the autonomous region’s industrial and scientific potential, application of the world leading technologies in hydrocarbons exploration, oil production and processing, associated petroleum gas use and advanced environmental technologies. One of the important areas of cooperation is social and economic development of the KHMAO and its municipalities. SPD will continue delivering of various projects on development of social infrastructure in the region, sponsorship of educational and awareness programs, health, physical fitness and sports projects and large-scale cultural events management.

Source: http://www.salympetroleum.ru